Common use of Failure to Elect Clause in Contracts

Failure to Elect. If no election as to the Class of a Revolving Borrowing is specified in a Borrowing Request, then the requested Borrowing shall be denominated in Dollars and shall be a Multicurrency Borrowing. If no election as to the Currency of a Revolving Borrowing is specified in a Borrowing Request, then the requested Borrowing shall be denominated in Dollars. If no election as to the Type or Currency of a Borrowing is specified in a Borrowing Request, then the requested Borrowing shall be a Term Benchmark Borrowing denominated in Dollars having an Interest Period of one (1) month and, if an Agreed Foreign Currency has been specified, the requested Borrowing shall be a Term Benchmark Borrowing or RFR Borrowing, as applicable denominated in such Agreed Foreign Currency and having an Interest Period of one (1) month. If a Borrowing (other than an ABR Borrowing) is requested but no Interest Period is specified, (i) if the Currency specified for such Borrowing is Dollars (or if no Currency has been so specified), the requested Borrowing shall be a Term Benchmark Borrowing denominated in Dollars having an Interest Period of one (1) month’s duration, and (ii) if the Currency specified for such Borrowing is an Agreed Foreign Currency, the Borrower shall be deemed to have selected an Interest Period of one (1) month’s duration.

Failure to Elect. If no election as to the Class of a Revolving Borrowing is specified in a Borrowing Request, then the requested Borrowing shall be denominated in Dollars and shall be a Multicurrency Pro-Rata Borrowing. If no election as to the Currency of a Revolving Borrowing is specified in a Borrowing Request, then the requested Borrowing shall be denominated in Dollars. If no election as to the Type or Currency of a Borrowing is specified in a Borrowing Request, then the requested Borrowing shall be a Term Benchmark Eurocurrency Borrowing denominated in Dollars having an Interest Period of one (1) month and, if an Agreed Foreign Currency has been specified, the requested Borrowing shall be a Term Benchmark Eurocurrency Borrowing or RFR Borrowing, as applicable denominated in such Agreed Foreign Currency and having an Interest Period of one (1) month; provided, however, if the specified Agreed Foreign Currency is GBP, the requested Borrowing shall be an RFR Borrowing denominated in GBP. If a Eurocurrency Borrowing (other than an ABR Borrowing) is requested but no Interest Period is specified, (i) if the Currency specified for such Borrowing is Dollars (or if no Currency has been so specified), the requested Borrowing shall be a Term Benchmark Eurocurrency Borrowing denominated in Dollars having an Interest Period of one (1) month’s duration, and (ii) if the Currency specified for such Borrowing is an Agreed Foreign Currency, the Borrower shall be deemed to have selected an Interest Period of one (1) month’s duration.

Failure to Elect. If no election as to the Class of a Revolving Borrowing is specified in a Borrowing Request, then the requested Borrowing shall be denominated in Dollars and shall be a Multicurrency Pro-Rata Borrowing, unless the Currency of such Borrowing is specified as an Agreed Foreign Currency, in which case such requested Borrowing shall be denominated in such Agreed Foreign Currency. If no election as to the Currency of a Revolving Borrowing is specified in a Borrowing Requestspecified, then the requested Borrowing shall be denominated in Dollars. If no election as to the Type or Currency of a Borrowing is specified in a Borrowing Request, then the requested Borrowing shall be a Eurocurrency(x) if the then-current Benchmark is Adjusted Term Benchmark SOFR, a SOFR Borrowing denominated in Dollars having an Interest Period of one (1) month and (y) if the then-current Benchmark is Daily Simple SOFR, a SOFR Borrowing bearing interest at a rate based upon Daily Simple SOFR and, if an Agreed Foreign Currency has been specified, the requested Borrowing shall be a Term Benchmark Eurocurrency Borrowing or RFR Borrowing, as applicable denominated in such Agreed Foreign Currency and having an Interest Period of one (1) month; provided, however, if the specified Agreed Foreign Currency is Pounds Sterling, the requested Borrowing shall be an RFR Borrowing denominated in Pounds Sterling. If a Eurocurrency Borrowing (other than an ABR or, if the then- current Benchmark is Adjusted Term SOFR, a SOFR Borrowing) , is requested but no Interest Period is specified, (i) if the Currency specified for such Borrowing is Dollars (or if no Currency has been so specified), the requested Borrowing shall be a Term Benchmark EurocurrencySOFR Borrowing denominated in Dollars having an Interest Period of one (1) month’s duration, and (ii) if the Currency specified for such Borrowing is an Agreed Foreign Currency, the Borrower shall be deemed to have selected an Interest Period of one (1) month’s duration.

Failure to Elect. If no election as to the Class of a Revolving Borrowing is specified in a Borrowing Request, then the requested Borrowing shall be denominated in Dollars and shall be a Multicurrency Pro-Rata Borrowing. If no election as to the Currency of a Revolving Borrowing is specified in a Borrowing Request, then the requested Borrowing shall be denominated in Dollars. If no election as to the Type or Currency of a Borrowing is specified in a Borrowing Request, then the requested Borrowing shall be a Term Benchmark EurocurrencyTerm SOFR Borrowing denominated in Dollars having an Interest Period of one (1) month and, month’s duration and if an Agreed Foreign Currency has been specified, the requested Borrowing shall be a Term Benchmark Eurocurrency Borrowing or RFR Borrowing, as applicable denominated in such Agreed Foreign Currency and having an Interest Period interest period of one (1) month’s duration; provided, however, if the specified Agreed Foreign Currency is Pounds Sterling or Swiss Francs, the requested Borrowings shall be an RFR Borrowing denominated in Pounds Sterling or Swiss Francs, as applicable. If a Term SOFR Borrowing (other than an ABR Borrowing) or Eurocurrency Borrowing is requested but no Interest Period is specified, (i) if the Currency specified for such Borrowing is Dollars (or if no Currency has been so specified), the requested Borrowing shall be a Term Benchmark Eurocurrency Borrowing denominated in Dollars having an Interest Period of one (1) month’s duration, and (ii) if the Currency specified for such Borrowing is an Agreed Foreign Currency, the Borrower shall be deemed to have selected an Interest Period of one (1) month’s duration.

Failure to Elect. If no election as to the Class of a Revolving Borrowing denominated in Dollars is specified in a Borrowing Requestspecified, then the requested Borrowing shall be denominated in Dollars deemed to be under both the Multicurrency Commitments and Dollar Commitments, provided however, that if no election as to a Class is specified but an Agreed Foreign Currency has been specified then the requested Borrowing shall be a deemed to be under the Multicurrency BorrowingCommitments. If no election as to the Currency of a Revolving Borrowing is specified in a Borrowing Requestspecified, then the requested Borrowing shall be denominated in Dollars. If no election as to the Type or Currency of a Borrowing is specified in a Borrowing Requestspecified, then the requested Borrowing shall be (x) if the then-current Benchmark is Adjusted Term SOFR, a Term Benchmark SOFR Borrowing denominated in Dollars having an Interest Period of one month and (1y) month if the then-current Benchmark is Daily Compounded SOFR, a SOFR Borrowing bearing interest at a rate based upon Daily Compounded SOFR and, if an Agreed Foreign Currency has been specified, the requested Borrowing shall be a Term Benchmark Eurocurrency Borrowing or RFR Borrowing, as applicable denominated in such Agreed Foreign Currency and having an Interest Period of one (1) month; provided, however, if the specified Agreed Foreign Currency is Pounds Sterling, the requested Borrowing shall be an RFR Borrowing denominated in Pounds Sterling. If a Eurocurrency Borrowing (other than an ABR or, if the then-current Benchmark is Adjusted Term SOFR, a SOFR Borrowing) , is requested but no Interest Period is specified, (i) if the Currency specified for such Borrowing is Dollars (or if no Currency has been so specified), the requested Borrowing shall be a Term Benchmark SOFR Borrowing denominated in Dollars having an Interest Period of one (1) month’s duration, and (ii) if the Currency specified for such Borrowing is an Agreed Foreign Currency, the Borrower shall be deemed to have selected an Interest Period of one (1) month’s duration.

Failure to Elect. If no election as to the Class of a Revolving Borrowing denominated in Dollars is specified in a Borrowing Requestspecified, then the requested Borrowing shall be denominated in Dollars deemed to be under both the Multicurrency Commitments and Dollar Commitments, provided however, that if no election as to a Class is specified but an Agreed Foreign Currency has been specified then the requested Borrowing shall be a deemed to be under the Multicurrency BorrowingCommitments. If no election as to the Currency of a Revolving Borrowing is specified in a Borrowing Requestspecified, then the requested Borrowing shall be denominated in Dollars. If no election as to the Type or Currency of a Borrowing is specified in a Borrowing Requestspecified, then the requested Borrowing shall be (x) if the then-current Benchmark is the Adjusted LIBO Rate, a Term Benchmark Eurocurrency Borrowing denominated in Dollars having an Interest Period of one month, (1y) if the then-current Benchmark is Adjusted Term SOFR, a SOFR Borrowing having an Interest Period of one month and (zy) if the then-current Benchmark is Daily Compounded SOFR, a SOFR Borrowing bearing interest at a rate based upon Daily Compounded SOFR and, if an Agreed Foreign Currency has been specified, the requested Borrowing shall be a Term Benchmark Eurocurrency Borrowing or RFR Borrowing, as applicable denominated in such Agreed Foreign Currency and having an Interest Period of one (1) month; provided, however, if the specified Agreed Foreign Currency is Pounds Sterling, the requested Borrowing shall be an RFR Borrowing denominated in Pounds Sterling. If a Eurocurrency Borrowing (other than an ABR or, if the then-current Benchmark is Adjusted Term SOFR, a SOFR Borrowing) , is requested but no Interest Period is specified, (i) if the Currency specified for such Borrowing is Dollars (or if no Currency has been so specified), the requested Borrowing shall be a Term Benchmark Eurocurrency Borrowing or SOFR Borrowing, as applicable, denominated in Dollars having an Interest Period of one (1) month’s duration, and (ii) if the Currency specified for such Borrowing is an Agreed Foreign Currency, the Borrower shall be deemed to have selected an Interest Period of one (1) month’s duration.

Failure to Elect. If no election as to the Class of a Revolving Syndicated Borrowing is specified in a Borrowing Requestspecified, then the requested Syndicated Borrowing shall be denominated in Dollars and shall deemed to be a under the Multicurrency BorrowingCommitments. If no election as to the Currency of a Revolving Syndicated Borrowing is specified in a Borrowing Requestspecified, then the requested Syndicated Borrowing shall be denominated in Dollars. If no election as to the Type or Currency of a Syndicated Borrowing is specified in a Borrowing Requestspecified, then the requested Borrowing shall be a Term Benchmark Borrowing denominated in Dollars having an Interest Period of one (1) month and, if an Agreed Foreign Currency has been specified, the requested Syndicated Borrowing shall be a Term Benchmark Borrowing or RFR Borrowing, as applicable applicable, denominated in such Agreed Foreign Currency and having an Interest Period of one (1) month. If a Term Benchmark Borrowing (other than an ABR Borrowing) or RFR Borrowing is requested but no Interest Period is specified, (i) if the Currency specified for such DOCVARIABLE #DNDocID \* MERGEFORMAT 748401849 52 Second Amended and Restated Revolving Credit Agreement Borrowing is Dollars (or if no Currency has been so specified), the requested Borrowing shall be a Term Benchmark Borrowing denominated in Dollars having an Interest Period of one (1) month’s duration, and (ii) if the Currency specified for such Borrowing is an Agreed Foreign CurrencyCurrency (other than Sterling and Swiss Franc), the Borrower shall be deemed to have selected an Interest Period of one (1) month’s duration.

Failure to Elect. If no election as to the Class of a Revolving Borrowing denominated in Dollar is specified in a Borrowing Requestspecified, then the requested Borrowing shall be denominated in Dollars deemed to be under both the Multicurrency Commitments and Dollar Commitments, provided however, that if no election as to a Class is specified but an Agreed Foreign Currency has been specified then the requested Borrowing shall be a deemed to be under the Multicurrency BorrowingCommitments. If no election as to the Currency of a Revolving Borrowing is specified in a Borrowing Requestspecified, then the requested Borrowing shall be denominated in Dollars. If no election as to the Type or Currency of a Borrowing is specified in a Borrowing Requestspecified, then the requested Borrowing shall be a Term Benchmark Eurocurrency Borrowing denominated in Dollars having an Interest Period of one (1) month and, if an Agreed Foreign Currency has been specified, the requested Borrowing shall be a Term Benchmark Eurocurrency Borrowing or RFR Borrowing, as applicable denominated in such Agreed Foreign Currency and having an Interest Period of one (1) month. If a Eurocurrency Borrowing (other than an ABR Borrowing) is requested but no Interest Period is specified, (i) if the Currency specified for such Borrowing is Dollars (or if no Currency has been so specified), the requested Borrowing shall be a Term Benchmark Eurocurrency Borrowing denominated in Dollars having an Interest Period of one (1) month’s duration, and (ii) if the Currency specified for such Borrowing is an Agreed Foreign Currency, the Borrower shall be deemed to have selected an Interest Period of one (1) month’s duration.

Failure to Elect. If no election as to the Class of a Revolving Syndicated Borrowing is specified in a Borrowing Requestspecified, then the requested Borrowing shall be denominated in Dollars and shall be a applied ratably to each of the Dollar Commitments and the Multicurrency BorrowingCommitments, based upon the percentage of the aggregate Commitments represented by the unused amount of the Dollar Commitments and the unused amount of the Multicurrency Commitments, respectively. If no election as to the Currency of a Revolving Syndicated Borrowing is specified in a Borrowing Requestspecified, then the requested Syndicated Borrowing shall be denominated in Dollars. If no election as to the Type or Currency of a Syndicated Borrowing is specified in a Borrowing Requestspecified, then the requested Borrowing shall be a Term Benchmark Borrowing denominated in Dollars having an Interest Period of one (1) month and, if an Agreed Foreign Currency has been specified, the requested Syndicated Borrowing shall be a Term Benchmark Borrowing or RFR Borrowing, as applicable denominated in such Agreed Foreign Currency and having an Interest Period of one (1) month; provided that, if the specified Agreed Foreign Currency is Sterling, the requested Borrowing shall be a RFR Borrowing. If a Term Benchmark Borrowing (other than an ABR Borrowing) is requested but no Interest Period is specified, (i) if the Currency specified for such Borrowing is Dollars (or if no Currency has been so specified), the requested Borrowing shall be a Term Benchmark Borrowing denominated in Dollars having an Interest Period of one (1) month’s duration, and (ii) if the Currency specified for such Borrowing is an Agreed Foreign Currency, the Borrower shall be deemed to have selected an Interest Period of one (1) month’s duration.

Failure to Elect. If no election as to the Class of a Revolving Borrowing denominated in Dollars is specified in a Borrowing Requestspecified, then the requested Borrowing shall be denominated in Dollars deemed to be under both the Multicurrency Commitments and Dollar Commitments, provided however, that if no election as to a Class is specified but an Agreed Foreign Currency has been specified then the requested Borrowing shall be a deemed to be under the Multicurrency BorrowingCommitments. If no election as to the Currency of a Revolving Borrowing is specified in a Borrowing Requestspecified, then the requested Borrowing shall be denominated in Dollars. If no election as to the Type or Currency of a Borrowing is specified in a Borrowing Requestspecified, then the requested Borrowing shall be (x) if the then-current Benchmark is the Adjusted LIBO Rate, a Term Benchmark Eurocurrency Borrowing denominated in Dollars having an Interest Period of one month, (1y) if the then-current Benchmark is Adjusted Term SOFR, a SOFR Borrowing having an Interest Period of one month and (z) if the then-current Benchmark is Daily Compounded SOFR, a SOFR Borrowing bearing interest at a rate based upon Daily Compounded SOFR and, if an Agreed Foreign Currency has been specified, the requested Borrowing shall be a Term Benchmark Eurocurrency Borrowing or RFR Borrowing, as applicable denominated in such Agreed Foreign Currency and having an Interest Period of one (1) month; provided, however, if the specified Agreed Foreign Currency is Pounds Sterling, the requested Borrowing shall be an RFR Borrowing denominated in Pounds Sterling. If a Eurocurrency Borrowing (other than an ABR or, if the then-current Benchmark is Adjusted Term SOFR, a SOFR Borrowing) , is requested but no Interest Period is specified, (i) if the Currency specified for such Borrowing is Dollars (or if no Currency has been so specified), the requested Borrowing shall be a Term Benchmark Eurocurrency Borrowing or SOFR Borrowing, as applicable, denominated in Dollars having an Interest Period of one (1) month’s duration, and (ii) if the Currency specified for such Borrowing is an Agreed Foreign Currency, the Borrower shall be deemed to have selected an Interest Period of one (1) month’s duration.

Failure to Elect. If no election as to the Class of a Revolving Borrowing is specified in a Borrowing Request, then the requested Borrowing shall be denominated in Dollars and shall be a Multicurrency Pro-Rata Borrowing, unless the Currency of such Borrowing is specified in anas an Agreed Foreign Currency, in which case such requested Borrowing shall be denominated in such Agreed Foreign Currency. If no election as to the Currency of a Revolving Borrowing is specified in a Borrowing Requestspecified, then the requested Borrowing shall be denominated in Dollars. If no election as to the Type or Currency of a Borrowing is specified in a Borrowing Request, then the requested Borrowing shall be a Term Benchmark Eurocurrency Borrowing denominated in Dollars having an Interest Period of one (1) month and, if an Agreed Foreign Currency has been specified, the requested Borrowing shall be a Term Benchmark Eurocurrency Borrowing or RFR Borrowing, as applicable denominated in such Agreed Foreign Currency and having an Interest Period of one (1) month.; provided, however, if the specified Agreed Foreign Currency is Pounds Sterling, the requested Borrowing shall be an RFR Borrowing denominated in Pounds Sterling. If a Eurocurrency Borrowing (other than an ABR Borrowing) is requested but no Interest Period is specified, (i) if the Currency specified for such Borrowing is Dollars (or if no Currency has been so specified), the requested Borrowing shall be a Term Benchmark Eurocurrency Borrowing denominated in Dollars having an Interest Period of one (1) month’s duration, and (ii) if the Currency specified for such Borrowing is an Agreed Foreign Currency, the Borrower shall be deemed to have selected an Interest Period of one (1) month’s duration.

Failure to Elect. If no election as to the Class of a Revolving Syndicated Borrowing is specified in a Borrowing Requestspecified, then the requested Borrowing shall be denominated in Dollars and shall be a applied ratably to each of the Dollar Commitments and the Multicurrency BorrowingCommitments, based upon the percentage of the aggregate Commitments represented by the unused amount of the Dollar Commitments and the unused amount of the Multicurrency Commitments, respectively. If no election as to the Currency of a Revolving Syndicated Borrowing is specified in a Borrowing Requestspecified, then the requested Syndicated Borrowing shall be denominated in Dollars. If no election as to the Type or Currency of a Syndicated Borrowing is specified in a Borrowing Requestspecified, then the requested Borrowing shall be (x) if the then-current Benchmark is Adjusted Term SOFR, a Term Benchmark SOFR Borrowing denominated in Dollars having an Interest Period of one month and (1y) month if the then-current Benchmark is Daily Compounded SOFR, a SOFR Borrowing bearing interest at a rate based upon Daily Compounded SOFR and, if an Agreed Foreign Currency has been specified, the requested Syndicated Borrowing shall be a Term Benchmark Eurocurrency Borrowing or RFR Borrowing, as applicable denominated in such Agreed Foreign Currency and having an Interest Period of one (1) month; provided that, if the specified Agreed Foreign Currency is Sterling or Japanese Yen, the requested Borrowing shall be a RFR Borrowing denominated in Sterling or Japanese Yen, as applicable. If the then-current Benchmark is Adjusted Term SOFR and a SOFR Borrowing (other than an ABR Borrowing) is requested but no Interest Period is specified, (i) if the Currency specified for such Borrowing is Dollars (or if no Currency has been so specified), the requested Borrowing shall be a Term Benchmark SOFR Borrowing denominated in Dollars and, if the then-current Benchmark is Adjusted Term SOFR, having an Interest Period of one (1) month’s duration, and (ii) if the Currency specified for such Borrowing is an Agreed Foreign Currency, the Borrower shall be deemed to have selected an Interest Period of one (1) month’s duration.

Failure to Elect. If no election as to the Class of a Syndicated Revolving Borrowing is specified in a Borrowing Requestspecified, then the requested Syndicated Borrowing shall be denominated in Dollars deemed to be under the Multicurrency Revolving Commitments and shall be a allocated between the Class A Multicurrency BorrowingRevolving Commitments and the Class B Multicurrency Revolving Commitments as set forth in Section 2.02(a). If no election as to the Currency of a Revolving Borrowing is specified in a Borrowing Requestspecified, then the requested Revolving Borrowing shall be denominated in Dollars. If no election as to the Type or Currency of a Borrowing is specified in a Borrowing Requestspecified, then the requested Borrowing shall be a Term Benchmark Eurocurrency Borrowing denominated in Dollars having an Interest Period of one (1) month and, if an Agreed Foreign Currency has been specified, the requested Borrowing shall be a Term Benchmark Eurocurrency Borrowing or RFR Borrowing, as applicable denominated in such Agreed Foreign Currency and having an Interest Period of one (1) month. If a Eurocurrency Borrowing (other than an ABR Borrowing) is requested but no Interest Period is specified, (i) if the Currency specified for such Borrowing is Dollars (or if no Currency has been so specified), the requested Borrowing shall be a Term Benchmark Eurocurrency Borrowing denominated in Dollars having an Interest Period of one (1) month’s duration, and (ii) if the Currency specified for such Borrowing is an Agreed Foreign Currency, the Borrower shall be deemed to have selected an Interest Period of one (1) month’s duration.

Failure to Elect. If no election as to the Class of a Revolving Borrowing is specified in a Borrowing Request, then the requested Borrowing shall be denominated in Dollars and shall be a Multicurrency Pro-Rata Borrowing. If no election as to the Currency of a Revolving Borrowing is specified in a Borrowing Request, then the requested Borrowing shall be denominated in DollarsDollars and shall be a Multicurrency Borrowing (or, to the extent such requested Borrowing exceeds the available Multicurrency Commitments at such time, a Dollar Borrowing in an amount equal to such excess). If no election as to the Type or Currency of a Borrowing is specified in a Borrowing Request, then the requested Borrowing shall be a Term Benchmark Borrowing denominated in Dollars having an Interest Period of one (1) month and, if an Agreed Foreign Currency has been specified, the requested Borrowing shall be a Term Benchmark Borrowing or RFR Borrowing, as applicable denominated in such Agreed Foreign Currency and and, with respect to any Term Benchmark Borrowing, having an Interest Period of one (1) month. If a Borrowing (other than an ABR Borrowing) is requested but no Interest Period is specified, (i) if the Currency specified for such Borrowing is Dollars (or if no Currency has been so specified), the requested Borrowing shall be a Term Benchmark Borrowing denominated in Dollars having an Interest Period of one (1) month’s duration, and (ii) if the Currency specified for such Borrowing is an Agreed Foreign Currency, the Borrower shall be deemed to have selected an Interest Period of one (1) month’s duration.

Failure to Elect. If no election as to the Class of a Revolving Borrowing is specified in a Borrowing Requestspecified, then the requested Borrowing shall be denominated in Dollars and shall deemed to be a Multicurrency BorrowingBorrowing of Dollar Loans. If no election as to the Currency of a Revolving Borrowing is specified in a Borrowing Requestspecified, then the requested Borrowing shall be denominated in Dollars. If Prior to the Transition Date, if no election as to the Type or Currency of a Borrowing is specified in a Borrowing Requestspecified, then the requested Borrowing shall be a Term Benchmark Eurocurrency Borrowing denominated in Dollars having an Interest Period of one (1) month and, if an Agreed Foreign Currency has been specified, the requested Borrowing shall be a Term Benchmark Eurocurrency Borrowing or RFR Borrowing, as applicable denominated in such Agreed Foreign Currency and having an Interest Period of one (1) month. If Prior to the Transition Date, if a Eurocurrency Borrowing (other than an ABR Borrowing) is requested but no Interest Period is specified, (i) if the Currency specified for such Borrowing is Dollars (or if no Currency has been so specified), the requested Borrowing shall be a Term Benchmark Eurocurrency Borrowing denominated in Dollars having an Interest Period of one (1) month’s duration, and (ii) if the Currency specified for such Borrowing is an Agreed Foreign Currency, the Borrower shall be deemed to have selected an Interest Period of one (1) month’s duration. On and after the Transition Date, if no election as to the Type of a Borrowing is specified, then the requested Borrowing shall be a SOFR Borrowing having an Interest Period of one month. On and after the Transition Date, if a SOFR Borrowing is requested but no Interest Period is specified, the requested Borrowing shall be a SOFR Borrowing having an Interest Period of one month’s duration.